Synopsis
Cryptos fell as US-China trade tensions flared, with Bitcoin down 1.5% and Ethereum slipping 3.8%. A 145% US tariff on Chinese goods spooked investors, boosting gold and Swiss franc. Analysts flagged cautious sentiment despite easing inflation. Bitcoin support lies at $75,000, with $88,000 eyed if macro conditions improve.
Cryptocurrency prices declined on Friday as global markets reacted to renewed trade tensions between the US and China. While US President Donald Trump temporarily suspended some tariffs, the move was overshadowed by a steep 145% tariff imposed on Chinese imports, prompting swift retaliation from Beijing.
The escalation spooked investors, pushing them toward safe-haven assets. The Swiss franc climbed to a decade high against the dollar, while gold touched a fresh peak.
As of 11:58 AM IST, Bitcoin was trading at $80,955, down 1.5% over the past 24 hours. Ethereum slid 3.8% to $1,552. The global cryptocurrency market capitalization fell 1.09% to $2.58 trillion.
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TOP COIN SETSNFT & Metaverse Tracker-3.80% BuyDeFi Tracker-4.06% BuyWeb3 Tracker-8.12% BuySmart Contract Tracker-8.74% BuyBTC 50 :: ETH 50-8.87% BuyTOP COINS (₹) BNB49,970 (0.1%)BuySolana10,029 (0.03%)BuyXRP172 (-0.33%)BuyBitcoin6,969,051 (-1.58%)BuyEthereum133,349 (-4.32%)Buy”Current crypto market and Bitcoin volatility is a product of the complex ballet of macroeconomic and crypto-native influences. Trump’s tariff reprieve and receding inflation are short-term reliefs, but investor sentiment remains cautious,” said Avinash Shekhar, Co-founder & CEO, Pi42, citing over $772 million outflows from spot Bitcoin ETFs.
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View Details »CoinSwitch Markets Desk noted, “The market turbulence was primarily driven by the US administration’s decision to impose a 145% tariff on Chinese imports. This triggered concerns over global growth and heightened market volatility.”
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Edul Patel, Co-founder and CEO of Mudrex, said, “Bitcoin’s resistance is seen at $83,700, while support is at $75,000.”
Among altcoins, XRP, Tron, Toncoin, Stellar, Polkadot, and Pi Coin fell up to 4%, while Solana, Dogecoin, Cardano, Chainlink, and Shiba Inu traded slightly higher.
Bitcoin’s market capitalization dropped to $1.608 trillion, with its dominance rising to 62.39%. Daily trading volume plunged 41.6% to $44.88 billion, while stablecoin activity made up 95.93% of total crypto trading, reaching $98.28 billion, according to .
“If macro conditions improve, Bitcoin could aim for the $85,000–$87,000 range, where its 200-day SMA and EMA converge. Reclaiming this zone is crucial to confirm bullish momentum, with $88,000 as the next target,” said Vikram Subburaj, CEO, Giottus.
Also Read: What lies ahead for Altcoins: Looking at the future of diversified portfolios
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
